Occasionally forget people genuinely think capitalism is thousands of years old
One time I was talking about Robin Hood with some coworkers and one guy was like “he was bad because the people he helped learned to expect handouts” and I wanted to be like… okay can you explain how that flawed capitalist propaganda applies to feudalism
That’s an exaggeration. What was invented in the 16th century was mercantilism. Capitalism really dates for the beginning of the nineteenth century, with the rise of industry and cash crops over artisans and merchants. Vulture capitalism, with the notion that companies have no duties other than generating profit, is even younger.
I think a lot of this comes from the fact that most people don’t know the formal definition of capitalism. We all know the word, we’ve all seen the jokes, but very few people bother to actually define it unless they’re talking about political theory and philosophy, so it’s easy to end up with the impression that Capitalism = Money Can Be Exchanged For Goods And Services.
Capitalism is the economic system where most of the means of production (i.e. everything people need to have to make the stuff that everyone wants) are owned by private individuals or corporations, who then hire people to provide the labor necessary to produce things, with the intent of selling the output at a profit. It’s the difference between “you’re a carpenter and you make a chair and you sell it” and “you’re Richard Q. Richington who owns a chair factory, and you pay people to sell the chairs you paid other people to make and then all the excess money goes back to you.” There have been Richard Q. Richingtons on and off throughout history, but that being the norm for every single industry is a pretty recent development.
I scrolled past this and like two posts later saw this absolutely perfect example of the way people use “capitalism” completely divorced from its meaning.
People have been dangerously adulterating their products to make a bigger profit for THOUSANDS of YEARS. Rome famously had problems with people selling counterfeit bread and doctored wine.
Capitalism might make these problems worse by concentrating power in the hands of fewer and larger corporations, but ultimately the problem vastly predates actual capitalism. Unscrupulous sellers have been endangering and ripping off their customers since there was such a thing as a marketplace, and governments have been regulating the market for almost as long.
Time to deploy my favourite history meme:
